Wingstop surges in IPO to close 61% higher
In its trading debut Friday, Wingstop jumped 61 percent to close at $30.59 from its IPO price of $19. (Tweet this.)
The fast-casual restaurant chain specializes in chicken wings and was founded in 1994 in Texas. The Dallas-based company, which was owned by private equity firm Roark Capital Group, sold 2.15 million of the 5.8 million shares in the offering.
The company plans to use the money to pay down debt and for a $3.3 million fee to end its management agreement with Roark Capital Management, affiliated with Roark Capital Partners.
Read MoreWingstop growth plans set for 2,500 U.S. locations: CEO
—Reuters contributed to this report.
Correction: This story has been updated to reflect that Wingstop rose nearly 61 percent in its debut.
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